FB - waiting for price to test resistance
Price broke below the white trend line support, which is now resistance. The red X's mark good spots to buy puts: between the 10sma and white line, or if buyers push price a little higher then at the 20sma. As price moves up, you will also see RSI come up to the 50 line (red X).
This is where you enter puts with low risk. If stock sees more selling, then price and RSI will move lower, down to green check. Green line marks target for puts. Remember to take partial exits. Extended selling will take price down to 230, then 225.
If price closes over resistance and moves higher, you exit puts and look for a signal to buy calls.
Use price alerts and keep this stock on your watch list for the next week to see if a trade sets up.
This is where you enter puts with low risk. If stock sees more selling, then price and RSI will move lower, down to green check. Green line marks target for puts. Remember to take partial exits. Extended selling will take price down to 230, then 225.
If price closes over resistance and moves higher, you exit puts and look for a signal to buy calls.
Use price alerts and keep this stock on your watch list for the next week to see if a trade sets up.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.